IDFC First Bank Fraud Triggers Sharp Stock Fall

IDFC First Bank shares plunged ~19% after revealing a Rs 590-crore fraud involving employees and Haryana government accounts. The bank has filed a complaint, suspended officials, and initiated audits. Haryana de-empanelled the bank, while recovery efforts are underway. The fraud equals ~0.9% of net worth and ~20% of FY26 pre-tax profit.